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Mar 26, 2013
03/13
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. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network. >> what's the primary reason here? >> there is a few reasons mostly because it costs more money. i am going to show you some numbers. they are really startling. when it feels like we are not making money we always say that. when you look at the data we are not. median household income is over 51,000 dollars. take a look at that on a time line. 6 percent less than when the economic recovery began in summer of 2009 and less than when the recession started. obviously we are not making enough money. all of this data comes from research. they also say one of the key reasons speegsly now because - especially now. saw a $600 drop between f
. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network. >> what's the primary reason here? >>...
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Mar 25, 2013
03/13
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FOXNEWSW
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how is that possible, little stockton? if you look at the map in california everybody was moving out in san francisco, properties were too high there, same with palo at torques silicon valley, they moved to stockton. what could happen in detroit unless they start cutting more. if detroit has to file for chapter 9 bankruptcy municipal that would make headlines around the world and kind prus would be booted off the front page. >> that's what they are trying to do and -- >> the mayor and the city council loose all the authority they shr-fplt they've been trying and they can't do that. they can't negotiate contracts because a lot of them are involved in a roundabout way with the contracts originally put forth. he'll come in and say listen you're going to cut the spending right here or we are going bankrupt. he's come out and said i've been through bankruptcy before i'm okay going through it again in detroit. >> reverend jesse jackson calling for massive demonstrations gains him today. we'll see what happens. bill: new developm
how is that possible, little stockton? if you look at the map in california everybody was moving out in san francisco, properties were too high there, same with palo at torques silicon valley, they moved to stockton. what could happen in detroit unless they start cutting more. if detroit has to file for chapter 9 bankruptcy municipal that would make headlines around the world and kind prus would be booted off the front page. >> that's what they are trying to do and -- >> the mayor...
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Mar 18, 2013
03/13
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KNTV
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control towers in napa, concord, livermore, stockton and santa rosa are all on the list of possible closures. >>> it is the eternal quest. now palo alto city council looking for a solution to the city's parking problem. residents say it's reached a saturation point and things are about to get worse as the new downtown development continues. according to enforcement, the palo alto city council will look at additional proposal, including permits at city garages. they will consider a valet program at another garage putting parking restrictions in residential neighborhoods and building a brand-new parking structure. >> i had lunch in palo alto, come to think of it, on friday. we were able to sit outside. today we can do that but probably not tomorrow. >> lucky you. her and zuckerberg, right? >> roll with it. >> we have a good day shaping up. marla is right, rain coming in. outdoor lunch plans on the water, much better conditions. a live look over san francisco. the bay bridge there. conditions on the bay glassy but those won't last as winds pick up ahead of the storm system. it doesn't move in u
control towers in napa, concord, livermore, stockton and santa rosa are all on the list of possible closures. >>> it is the eternal quest. now palo alto city council looking for a solution to the city's parking problem. residents say it's reached a saturation point and things are about to get worse as the new downtown development continues. according to enforcement, the palo alto city council will look at additional proposal, including permits at city garages. they will consider a...
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Mar 25, 2013
03/13
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KPIX
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stockton in the national spotlight. how the northern california city is about to make financial history today. >>> and the new study in the age of cell phones. the american teenager's love affair with the car may be coming to an end. hazelnut macchiato please. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [ male announcer ] the new hazelnut macchiato from starbucks. crafted by hand & heart. >>> developing news here in palo alto, northbound caltrain and southbound caltrain delayed because of a fatal accident that happened this morning in mountain view. train northbound 211 did strike and kill a male pedestrian. we have that confirmed with caltrain. now, this intersection was blocked for a while. it looks as if the traffic is beginning to move through but the caltrain service is very much delayed. stay with ktvu. we'll let you know more about the developing news in this situation. >>> a powerful snowstorm is moving toward the east coast this morning. this is what it looked like in kansas and missouri, where up to 9 inches of snow fell
stockton in the national spotlight. how the northern california city is about to make financial history today. >>> and the new study in the age of cell phones. the american teenager's love affair with the car may be coming to an end. hazelnut macchiato please. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [ male announcer ] the new hazelnut macchiato from starbucks. crafted by hand & heart. >>> developing news here in palo alto, northbound caltrain and southbound caltrain delayed...
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Mar 25, 2013
03/13
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KTVU
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stockton in the national spotlight. how the northern california city is about to make financial history today. >>> and the new study in the age of cell phones. the american teenager's love affair with the car may be coming to an end. please. ♪ ♪ ♪ ♪ [ male announcer ] the new hazelnut macchiato from starbucks. crafted by hand & heart. >>> developing news here in palo alto, northbound caltrain and southbound caltrain delayed because of a fatal accident that happened this morning in mountain view. train northbound 211 did strike and kill a male pedestrian. we have that confirmed with caltrain. now, this intersection was blocked for a while. it looks as if the traffic is beginning to move through but the caltrain service is very much delayed. stay with ktvu. we'll let you know more about the developing news in this situation. >>> a powerful snowstorm is moving toward the east coast this morning. this is what it looked like in kansas and missouri, where up to 9 inches of snow fell over the weekend. in parts of denve
stockton in the national spotlight. how the northern california city is about to make financial history today. >>> and the new study in the age of cell phones. the american teenager's love affair with the car may be coming to an end. please. ♪ ♪ ♪ ♪ [ male announcer ] the new hazelnut macchiato from starbucks. crafted by hand & heart. >>> developing news here in palo alto, northbound caltrain and southbound caltrain delayed because of a fatal accident that happened...
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Mar 18, 2013
03/13
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KNTV
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control towers in napa, concord, livermore, stockton and santa rosa are on the list of possible closure. "today in the bay's" danielle leigh is live on capitol hill where there are moves to give departments a little more leeway on those big cuts. danielle, good morning. >>> jon, good morning. the senate is expected to vote on a temporary budget to fund the government through the rest of the fiscal year. as part of that, there could be some relief. they are implementing across the board spending cuts as a result of the sequester. parts of the bill could give them more power. they have to go through about 100 amendments the senate tacked on to the bill. it was much simpler when it was passed by the house. it will have to go back to the house for approval. john boehner is waiting to see how it will pan out. they have to pass a temporary budget. once they are passed, they have to focus on that next year's budget. they are hoping to get a big deal here to address the deficit. last year, the house and senate put out opposing plans. the good news is that both sides seem ready to work toward a
control towers in napa, concord, livermore, stockton and santa rosa are on the list of possible closure. "today in the bay's" danielle leigh is live on capitol hill where there are moves to give departments a little more leeway on those big cuts. danielle, good morning. >>> jon, good morning. the senate is expected to vote on a temporary budget to fund the government through the rest of the fiscal year. as part of that, there could be some relief. they are implementing across...
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Mar 26, 2013
03/13
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FOXNEWSW
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county administrators and officials of every type, steve was talking about all the different counties, stockton is in the same vote, they sit there and voted themselves tremendous pensions or whether it is health care allowances for the rest of their lives, and no one was too sort of stop it, but when you set politics aside it is about the math. there is actually at the end of the day no way to pay this over time. >> melissa, the good news about this story, if there is any silver lining there, you're exactly right. the only way you stop this is with taxpayers. you know what? bill, there are several instances where taxpayers have voted on the ballot to put a clamp on these out of control pensions. so there is some movement in the right direction with people saying look, we want money to go for schools, not pensions. bill: is there anything in california that addresses perhaps renegotiating these contracts. >> bankruptcy. that is what keeps happening again and again. >> that's right. >> only way to deal with this and break these contracts is eventually to go into bankruptcy when the county can't
county administrators and officials of every type, steve was talking about all the different counties, stockton is in the same vote, they sit there and voted themselves tremendous pensions or whether it is health care allowances for the rest of their lives, and no one was too sort of stop it, but when you set politics aside it is about the math. there is actually at the end of the day no way to pay this over time. >> melissa, the good news about this story, if there is any silver lining...
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Mar 26, 2013
03/13
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a bankruptcy battle is underway in stockton, california, the most populated u.s. city to file for chapter 9 bankruptcy. lawyers argue that is the only option for the failing city but creditors disagree and are taking him to court. >>brian: charles payne, fox's business network guy, filling in for stuart varney this week. what do you think, charles? >> i think it is the only option. it is hard to argue these guys haven't tried. 25% of the police officers are gone, 40% of city hall is gone. they dug themselves into an amazing hall. what happened was you had a situation where you had typical government spending particularly at a local level which by the way sofpb more outrageous -- is often more outrageous than what we see in washington, d.c. combine that with the steroids of a housing boom. the average house there went from $100,000 to $400,000. from 2000 to 2006, talk about a county and city feeling flush. they made am mazing obligations and amazing promises. they built a hockey arena. they thought they would have a semi prosports league. >>steve: sky was the limit
a bankruptcy battle is underway in stockton, california, the most populated u.s. city to file for chapter 9 bankruptcy. lawyers argue that is the only option for the failing city but creditors disagree and are taking him to court. >>brian: charles payne, fox's business network guy, filling in for stuart varney this week. what do you think, charles? >> i think it is the only option. it is hard to argue these guys haven't tried. 25% of the police officers are gone, 40% of city hall is...
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Mar 25, 2013
03/13
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KRON
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and after years of struggle stockton is poised to become the most popular city and the answin then to enter bankruptcy when its trial begins tuesday in federal court. creditors to when stock and money are challenging its chapter 9 bankruptcy petition but most observers say the city of 300,000 will be successful. its largest creditors are by the answer is to help the city refinance pension that. police incenses the are searching for a serial arsonist who started three fires in the city over the weekend. police said two fires were lit in large part on memorial drive and a third was started near the 500 block of el camino real out. all three fires were strictly distinguished and caused little damage police said. no suspects information was immediately available. >> traffic moving smoothly and both areas of the bridge, we will be back. new nehoney bunches of oats greek yogurt and whole grain. herehe we go. honehoy corncoflakes and chunks of greek yogurt. i'i'm tasting both the yogurt and the honey at the same time. i'm like digging this yogurt thing. i feelfe healthy. new how ney buy hes
and after years of struggle stockton is poised to become the most popular city and the answin then to enter bankruptcy when its trial begins tuesday in federal court. creditors to when stock and money are challenging its chapter 9 bankruptcy petition but most observers say the city of 300,000 will be successful. its largest creditors are by the answer is to help the city refinance pension that. police incenses the are searching for a serial arsonist who started three fires in the city over the...